SENATE BILL 574

Sponsored By:

Chair, Anne Arundel County Senators

Entitled:

Recordation Tax - Public Utilities - Indemnity Mortgages

Synopsis:

Providing that secured debt with respect to specified indemnity mortgages on specified public utility property securing a guarantee of repayment of a loan is deemed for purposes of the recordation tax to be incurred when and to the same extent as debt is incurred on the guaranteed loan and the recordation tax applies with respect to these indemnity mortgages in a specified manner; defining terms; etc.

History by Legislative and Calendar Date

Senate Action

2/3

First Reading Budget and Taxation

2/8

Hearing 2/22 at 1:00 p.m.

House Action

No Action

Bill indexed under the following Subjects:

Loans -see also- Mortgages

Mortgages

Power Plants

Recordation

Revenue and Taxes -see also- Dev Fees &Taxes; specific tax

Utilities -see also- High Voltage Lines; Telephones; Water

Bill affects the following Statute:

Tax - Property

( 12-105 )

Documents

Bill Text: First Reading, Third Reading, Enrolled

Fiscal and Policy Note: Available

Amendments: None offered